$100K cheque from Sheegl marked as ‘loan’
Leonoff asks about the Tartesso, Ariz., land again.
Katz says he was a silent investor and says he believed there were three investors, including Phill Sheegl’s Winnix Group.
Katz says he decided to sell his stake for about $160,000 and invest that money elsewhere.
Leonoff shows Katz a July 30, 2011, cheque for $100,000 from Phil Sheegl marked as “loan.”
Katz says it was not a loan but payment for the Tartesso land.
Leonoff also asks Katz about an Aug. 16, 2012, TD Canada Trust bank deposit his company Samuel Michaels Properties received for $127,200 from “Babakhanians.”
Katz said his company no longer exists and he does not have tax records for it any more.
Katz said he was not aware of a handwritten trust agreement between Sheegl’s Winnix Group and Armik Babakhanians.